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Cybersecurity: We need new systems to save the banks

from Forbes

While a great number of industries have rushed to digitally engage consumers, the financial sector has lagged behind. Online banking platforms are built on top of an infrastructure that is still heavily reliant on paper and human interaction, leaving it prone to loss, error and social engineering techniques. These administrative costs prevent our financial system from scaling up and reaching the next billion users, a demographic that has no problem purchasing a smartphone but is still excluded from global banking due to exorbitant compliance costs and identification requirements that don't match people's realities. more


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